Marshall Wace LLP Has $120.10 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Marshall Wace LLP decreased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 796,081 shares of the medical research company's stock after selling 204,584 shares during the period. Marshall Wace LLP owned about 0.71% of Quest Diagnostics worth $120,097,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Quest Diagnostics in the fourth quarter valued at $191,823,000. JPMorgan Chase & Co. lifted its position in shares of Quest Diagnostics by 60.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock worth $367,180,000 after purchasing an additional 916,898 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Quest Diagnostics by 83.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,093,042 shares of the medical research company's stock worth $164,896,000 after purchasing an additional 497,995 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $67,447,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Quest Diagnostics by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company's stock worth $133,023,000 after acquiring an additional 113,956 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

DGX stock traded up $12.70 during midday trading on Tuesday, reaching $174.56. 533,003 shares of the company were exchanged, compared to its average volume of 960,394. Quest Diagnostics Incorporated has a one year low of $128.38 and a one year high of $178.87. The firm has a market capitalization of $19.48 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. The business has a 50-day moving average price of $168.57 and a two-hundred day moving average price of $160.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date was Monday, April 7th. Quest Diagnostics's dividend payout ratio is presently 41.61%.

Insider Activity at Quest Diagnostics

In other news, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now owns 127,623 shares in the company, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company's stock, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,903 shares of company stock valued at $9,460,221 in the last 90 days. 8.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on DGX. Leerink Partnrs upgraded Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Piper Sandler restated a "neutral" rating and issued a $180.00 price target (up from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Truist Financial lifted their target price on Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Finally, Robert W. Baird raised their price target on shares of Quest Diagnostics from $190.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, March 20th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quest Diagnostics has a consensus rating of "Moderate Buy" and a consensus target price of $181.33.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.